1.) Attractive to Customers, Yes or No? and Why?
2.) Will work in your environment
3.) Executed in the window of opportunity that exists.
4.) You have the resources and skills to create the business
Bug List - BizInnovator
Check for Understanding:
Standard:
Recognize that entrepreneurs possess unique characteristics and evaluate the degree to which one possesses those characteristics.
1.) Exploit Changes in the World
2.) Problems create opportunities
3.) Constantly Search
- What frustrates me when I try and buy something?
- What product/service would make things better/easier?
- What isn’t effective in your life?
4.) Use your Imagination
5.) Identify Needs/Wants of the Market
Check for Understanding:
Determine 5 options for potential start ups you feel might be best fitting. Add to your innovation list.
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.
Learning Target:
Activities:
Business Entry - Franchising
Your task today is to research different franchises to identify those that would have the best opportunity to start in the Des Moines area. Remember to justify choices with Opportunity Ideas and Will it Work.
Find 2
Use the following two links to help start your search and also visit the actual Franchisor's website to get more information.
1.) What are the requirements/steps/expectations to start?
2.) What are the Fees/Royalties to operate the franchise?
3.) What are the Financial Requirements
4.) What Benefits/Difficulties of running the franchise
5.) Save all links/support for the franchise being successful in Des Moines.
6.) Find an example of a new franchise in the Des Moines Area and discuss whether or not it will be successful. - Save the link to the article or information regarding the Franchise.
Check for Understanding:
Determine 2 Franchise Opportunities in the DSM Area that would have a chance to be successful -
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.
Learning Target:
Activities:
What were your 5 start up opportunities?
Discuss Franchise Discovery - What did you learn?
Local Franchise Development - News and Business Concept. - Des Moines Register
What need/want did the franchise discover in its beginnings and how does it continue to satisfy the needs and wants of customers?
Discuss our visit to RAYGUN
Check for Understanding:
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.
Learning Target:
Activities:
Visit RAYGUN - Learn about the Business and Product Development
Check for Understanding:
What has allowed RAYGUN to continue to thrive in the early parts of the business.
February 5
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.
Who, What and How - The Marketing Concept
- The Target Market, The Offer, Production and Delivery (Type of Business - Retail, Manufacturer, Wholesaler, Service
Begin to assemble your Company Description - Identify the Who, What, and How of your company.
One on One with Mr. Combs to discuss your Business Models
Finish Strategyer Videos
Check for Understanding:
Standard:
Learning Target:
Activities:
Identify the Mission Statements of 2 companies and analyze the mission statement for the businesses. Identify the parts of the mission statement that are included.
Target Market, Products/Services, Markets Served, Technology, Public Issues, Profitability and Growth, Survival
Assignment - Do the companies you identified Mission Statements for have a Vision Statement? If yes, What does it express? If not, what do they have instead? Discuss Vision Statements
1.) Begin to identify 2 customer groups and their characteristics
2.) Identify your Potential Market - Justify it
3.) Begin to Explore your Industry and Competitors, use the following as a starting point and explore more questions that fit your business opportunity.
Industry:
What stage is this industry in (inception, mature, or declining)?
Is the industry outlook favorable, or is it shrinking?
What challenges is this industry facing?
What trends are creating opportunity for this industry?
What is the average profit margin in this industry?
Competitors:
Who are your key competitors?
How big are they? Are they small businesses or global corporations?
Where are they located?
What is their business model? How do they make their money, and what sales channels do they use?
How much do they charge, and how profitable are they?
4.) Connect with Small Business Owner
Brendan - Wendy's Franchise Owner
Cole - Skyzone or Get Air Owner
Nick - Uber
March 12
Spring Break
Spring Break
Spring Break
Spring Break
Spring Break
March 19
Standard:
Learning Target:
Activities:
Discuss Work over Break
Continue to Identify your Target Market
Influences - Personality, Social Class, Cultural Environment, Groups
Motives to Buy
Decision Making Process and Types of Decisions
Check for Understanding:
2.) Create 12-15 Guiding Questions for Interviews
Develop a Survey - Customer Rewards Program
Standard:
Learning Target:
Activities:
Discuss Marketing Persona - Practice IHOP
Customer Personas - What goes into a Customer Persona?
- Branding Strategy - How will you grow your Brand?
Standard:
Learning Target:
Activities:
Iowa Assessments 8:30 - 10:30
Establish your Brand - The Keys
1.) Provide HQ Products/Services
2.) High Ethical Standards
3.) Define your product or service clearly
4.) Treat your employees well
5.) Advertising Message - Positive, Clear, Informative
6.) Associate with the community, charities and other positive PR
7.) Place it Everywhere!!! The audience needs to see it!
8.) Online Presence Domain Name, Social Media, etc..
How have business' established their Brand? Examples
Grumpy Goat - Trademark
Discuss how business established their Brand - Evidence on what they have done and Examples.
Check for Understanding:
Standard:
Learning Target:
Activities:
Your Business - Brand Strategies
What would be the key activities you would need to do in order to establish your Brand's Identity?
Identify and Assemble the Products and Services offered
and strategies that need to happen.
Interviews - ??? Status and Questions - Plan of Action and Interview Questions
Product Development - Creating a New Product Work time
New Businesses -
1.) Identify your Product Lines (Width, Depth and Consistency
2.) Identify one Product and one Service you would introduce
- Include the 8 elements in implementing the ideas
Franchise Models
1.) Identify your Product Lines (Width, Depth and Consistency
2.) Create one Product and one Service you would introduce in your Business.
- Include the 8 elements in implementing the ideas
Where will your business focus on making money? Revenue Products and Margin Products
Identify the Pricing for some of your Product Line and determine the pricing strategy that will be most effective.
A.) Describe your overall pricing strategy for your business. - Explain your goals, and clearly identify what you will rely to bring sustainability and success.
B.) Identify of your products what pricing objectives will be in place and explain your reasoning.
C.) Explain what types of pricing discounts you will use throughout the course of your business and how they will help you accomplish your overall pricing strategy.
Also continue to build onto your Product Strategies
Standard:
Learning Target:
Activities:
Being to identify the location where you will want to try to open up the restaurant.
A triple net lease (Net-Net-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three 'Nets') on the property in addition to any normal fees that are expected under the agreement (rent, etc.)
Place - How are you going to connect your product with the consumer?
1.) Where and when will the product will be produced, sold and used?
2.) What characteristics of the product will affect distribution - Quantity, Size, Packaging?
3.) What special physical handling is necessary?
4.) Who will be responsible for each of the distribution activities?
5.) Does the channel fit our organization?
6.) Does the channel fit the target customer and the brands position?
Goal: Match what the business produces and what the consumer wants to buy.
Costs - Determining the Start Up Costs - This sample should help you start to compile the costs that you might have but this should no where be near to the exact list you will create.
Typical Employees
Besides the Positions answer the following questions
Create simple job descriptions for the roles in your business. You are trying to attract the best employees possible.
One Management Role and One Typical Employee - Create a job posting for each. Job Description, Job Requirements, Job Benefits
1.) What are you going to focus your customer service on in training your employees. - What do you want them to value when they are working for you?
2.) Discuss what it will take to get return customers, not just one time customers. What will your business focus on to make sure this happens? (Customer Service Focus - how will your people interact with the customers) Be Specific and Descriptive
3.) What will you do to gain customer feedback? Describe the different tools and ways for you to gain the knowledge and describe how you will use it to your advantage.
4.) Complaints are valuable - Discuss how will you handle them and what you will learn from them, in person and in reviews? What will be the forms of communication that you will allow to best address the complaints. Demonstrate your procedures in handling customer issues.
5.) How many employees will you have? Part Time- Full Time
What job titles/jobs will be needed? Justify your reasoning.
Small Business Administration - Starting a Small Business
BizInnovator
No School
Standard:
Learning Target:
Activities:
Discuss Course and SyllabusDiscuss Student Expectations and Desired Learning
Sign Up for BizInnovator
Watch Entrepreneur Video - Teach our Kids to be Entrepreneurs
https://www.ted.com/topics/entrepreneur
http://www.shopify.com/blog/6553665-12-must-watch-ted-talks-for-entrepreneurs
https://www.ted.com/talks/cameron_herold_let_s_raise_kids_to_be_entrepreneurs
Check for Understanding:
Standard:
Learning Target:
Activities:
Continue Cameron Herald VideoDiscuss Reactions and Comments
Check for Understanding:
Standard:
Learning Target:
Activities:
Entrepreneur Profile - Homework
Due Monday
Discuss Under Armour History - Kevin Plank
Getting to Work
Company History
Company Background #1
Company Background #2
Check for Understanding:
Standard:
Recognize that entrepreneurs possess unique characteristics and evaluate the degree to which one possesses those characteristics.Learning Target:
Activities:
Kevin Plank - EntrepreneurshipBecome a Successful Entrepreneur
Define Entrepreneur
Check for Understanding:
Standard:
Recognize that entrepreneurs possess unique characteristics and evaluate the degree to which one possesses those characteristics.Learning Target:
Activities:
Share your Entrepreneur Findings. - Profiles
Definition of a Small BusinessWhy Entrepreneurship?
Advantages and Disadvantages - Discuss
Opportunity Costs - What are you giving up when you take the financial risk.
Discuss the work below together
Identifying your Entrepreneurial Strengths - BizInnovator
Check for Understanding:
Standard:
Recognize that entrepreneurs possess unique characteristics and evaluate the degree to which one possesses those characteristics.Learning Target:
Activities:
Discuss "What makes an entrepreneur"Do you have what it takes? - Survey
SBA Advice, Traits and Steps
https://www.sba.gov/business-guide/10-steps-start-your-business/
Check for Understanding:
Standard:
Recognize that entrepreneurs possess unique characteristics and evaluate the degree to which one possesses those characteristics.Learning Target:
Activities:
Finding Opportunities and 5 Roots of OpportunitiesThink, Listen, Observe
List of Business Ideas - Do you need to invent or come up with something new?
Discovering Opportunities
https://www.entrepreneur.com/article/201588
https://www.thebalance.com/best-small-businesses-opportunities-4111809
Business Ideas - What makes an Idea an Opportunity
https://www.youtube.com/watch?v=wwShFsSFb-Y&feature=youtu.be&CFID=205068&CFTOKEN=48174382
1.) Attractive to Customers, Yes or No? and Why?
2.) Will work in your environment
3.) Executed in the window of opportunity that exists.
4.) You have the resources and skills to create the business
Bug List - BizInnovator
Check for Understanding:
Standard:
Recognize that entrepreneurs possess unique characteristics and evaluate the degree to which one possesses those characteristics.Learning Target:
Activities:
Learn about a SWOT Analysishttps://www.youtube.com/watch?v=9-NWhwskTO4
Conduct a SWOT of 1 each of Business Innovation Ideas identified in the Bug List. - Together
Perform a SWOT Analysis - Independently of Each Other - 2 Bug List Ideas
21 Innovations - BizInnovator
Check for Understanding:
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.=Learning Target:=Activities:
Submit Bug List Analysis to Mr. CombsDiscuss Powerpoint on Innovation - Biz Innovator
https://www.slideshare.net/bachajee007/innovation-15609833
Invent
Extend
Duplicate
Synthesis
Overview of Entrepreneurship Assessment - Biz Innovator. - Discuss
BizInnovator Innovation Assessment - Discuss
Check for Understanding:
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.Learning Target:
Activities:
BizInnovator Innovation Assessment - DiscussBusiness Entry Opportunity - How to enter the business environment. - Analyze the Different Opportunities
Start Ups - Discussion and Analysis
https://www.entrepreneur.com/article/201588
Innovations/Ideas
1.) Exploit Changes in the World
2.) Problems create opportunities
3.) Constantly Search
- What frustrates me when I try and buy something?
- What product/service would make things better/easier?
- What isn’t effective in your life?
4.) Use your Imagination
5.) Identify Needs/Wants of the Market
Check for Understanding:
Determine 5 options for potential start ups you feel might be best fitting. Add to your innovation list.
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.Learning Target:
Activities:
Business Entry - Franchising
Your task today is to research different franchises to identify those that would have the best opportunity to start in the Des Moines area. Remember to justify choices with Opportunity Ideas and Will it Work.
Find 2
Use the following two links to help start your search and also visit the actual Franchisor's website to get more information.
http://www.franchise.com/
http://www.entrepreneur.com/franchise500/index.html
Discover the following:
1.) What are the requirements/steps/expectations to start?
2.) What are the Fees/Royalties to operate the franchise?
3.) What are the Financial Requirements
4.) What Benefits/Difficulties of running the franchise
5.) Save all links/support for the franchise being successful in Des Moines.
6.) Find an example of a new franchise in the Des Moines Area and discuss whether or not it will be successful. - Save the link to the article or information regarding the Franchise.
Check for Understanding:
Determine 2 Franchise Opportunities in the DSM Area that would have a chance to be successful -Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.Learning Target:
Activities:
What were your 5 start up opportunities?Discuss Franchise Discovery - What did you learn?
Local Franchise Development - News and Business Concept. - Des Moines Register
What need/want did the franchise discover in its beginnings and how does it continue to satisfy the needs and wants of customers?
Discuss our visit to RAYGUN
Check for Understanding:
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.Learning Target:
Activities:
Visit RAYGUN - Learn about the Business and Product Development
Check for Understanding:
What has allowed RAYGUN to continue to thrive in the early parts of the business.
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.Learning Target:
Activities:
Discuss Licensing Business Entry - Analysishttp://www.trademark.iastate.edu/
MLB Licensing
NBA Licensing
License Technology= =
Protecting your Idea
Ethics and US Patent Office
http://www.uspto.gov/
Patents, Trademarks, Copyright
https://www.youtube.com/watch?v=AQpaKJjEQR8
Check for Understanding:
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.
Learning Target:
Activities:
Intellectual PropertyActivity - Recognizing where Patents and Trademarks exist in the business/products.
http://www.freshpatents.com/
https://www.uspto.gov/trademarks-application-process/search-trademark-database
Domain Names - Web Presence and Brand Support
Choosing a Domain Name
https://www.godaddy.com/garage/smallbusiness/launch/10-tips-for-choosing-the-perfect-domain-name/
Search for Availability
https://www.godaddy.com/domains/domain-name-search?isc=cardigan
Domain Name Extensions
http://www.wix.com/domain/top-level-domains
Under Amour -
http://investor.underarmour.com/secfiling.cfm?filingID=1336917-14-8
Check for Understanding:
1.) Discover a Licensing opportunity you think would be successful and what its royalties/application process is.2.) Licensing - Read and bring a reaction and summary back. Plus, explain whether or not you feel licensing would be good business decision.
http://www.entrepreneur.com/article/174014
3.) What would you create as Entrepreneur Guidelines to avoid business failure?
List 5 and Explain why
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.Activities:
What makes a successful business entity?Who are some examples? Research Local Businesses
Discuss Guidelines for Success
Marketing Concept - Discussion
Why Businesses Fail?
http://www.investopedia.com/slide-show/top-6-reasons-new-businesses-fail/
http://www.businessknowhow.com/startup/business-failure.htm
http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/
http://www.businessinsider.com/biggest-product-failures-in-business-history-2014-7
http://www.huffingtonpost.com/2014/01/22/failing-brands-2014_n_4604534.html
https://www.usatoday.com/story/money/2017/12/20/here-26-retailers-and-apparel-companies-most-risk-2018/950328001/
Identify the common reasons for failure.
Check for Understanding:
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.Activities:
Preparing for your IdeaIdentify the Target Market and what you want to do to satisfy their needs.
Business Ideas
Problem Solving, Needs/Wants in the community, Improvement on Products/Services, or New Ideas
What are examples of New Businesses in Des Moines and what problem are they solving? Are they or do they just think they are?
Business Entry Opportunity
Explain the instructions and work time
Check for Understanding:
Standard:
Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures.Activities:
Discuss the Business Plan and its Elements
http://www.bplans.com/miniature_golf_course_business_plan/strategy_and_implementation_summary_fc.php
Why do you need a business plan?
http://www.entrepreneur.com/businessplan/index.html
Work Time - Discovering an Opportunitiy
Check for Understanding:
Standard:
Learning Target:
Activities:
Business Plan Outline
http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/writing-business-plan/essential-elements-good-busines
Discuss each section and its parts - Inclusions and reference examples.
Check for Understanding:
Standard:
Learning Target:
Activities:
Discuss the Business Plan - Its elements and what is contained in each sectionFinancial Analysis - Pro Forma Statements
http://www.entrepreneur.com/article/79258
Funding Request
http://abc.go.com/shows/shark-tank/episode-guide
Appendices
Check for Understanding:
Standard:
Learning Target:
Activities:
Lean Start Up Modelhttps://docs.google.com/drawings/d/1Y1PW5hlopJxHl3ysjENOsXdhy1Mm-V5cWYGDeEtQaLk/edit?usp=sharing
Business Model Canvas
https://www.youtube.com/watch?v=wlKP-BaC0jA
Submit Business Opportunity
Business Plan - Quiz
Check for Understanding:
Standard:
Learning Target:
Activities:
Field Trip to Casey's Corporate Headquarters
9:00 - 1:00
Learn about the Pricing, Distribution, and operations of the business.
Check for Understanding:
Standard:
Learning Target:
Activities:
Debrief from TripDiscuss Bizmodel Canvas - First Editions
Discuss Business Ideas , Canvas and the SWOT
Lean Start Up Continued - Strategyzer
Check for Understanding:
Standard:
Learning Target:
Activities:
Submit BizModel - Discuss Briefly -Finish Strategyer Videos
Who, What and How - The Marketing Concept
- The Target Market, The Offer, Production and Delivery (Type of Business - Retail, Manufacturer, Wholesaler, Service
Amazon
https://www.youtube.com/watch?v=oM4g3C7Lh4c
Who, What and How - Amazon
Assignment - Identify the Values of an Organization and what do they tell you about the business?
Hint: Google Search for a Company's Values
What is a Mission Statement?
http://www.inc.com/resources/startup/articles/20050201/missionstatement.html
Check for Understanding:
Standard:
Learning Target:
Activities:
No School - Ice Storm
Check for Understanding:
Standard:
Learning Target:
Activities:
Begin to assemble your Company Description - Identify the Who, What, and How of your company.One on One with Mr. Combs to discuss your Business Models
Finish Strategyer Videos
Check for Understanding:
Standard:
Learning Target:
Activities:
Identify the Mission Statements of 2 companies and analyze the mission statement for the businesses. Identify the parts of the mission statement that are included.
Target Market, Products/Services, Markets Served, Technology, Public Issues, Profitability and Growth, Survival
Vision - What is a Vision Statement and how does it differ from a Mission Statement
http://www.diffen.com/difference/Mission_Statement_vs_Vision_Statement
Assignment - Do the companies you identified Mission Statements for have a Vision Statement? If yes, What does it express? If not, what do they have instead?
Discuss Vision Statements
Culture
http://www.investopedia.com/terms/c/corporate-culture.asp
What is the importance of culture in an organization?
What does Amazon Value? What Evidence was identified.
Why is culture Important?
Look through the examples and identify the culture of the workplace. Does it exemplify the the Mission, Vision and Values of the Business.
Target - https://corporate.target.com/about/purpose-beliefs
https://corporate.target.com/careers/culture
Wells Fargo -
https://www08.wellsfargomedia.com/assets/pdf/about/corporate/vision-and-values.pdf
https://www.wellsfargo.com/about/corporate/vision-
and-values/our-culture/
Whole Foods -
http://www.wholefoodsmarket.com/careers/our-values-and-mission
Whole Foods
http://money.cnn.com/video/news/2013/06/17/f-leadership-whole-foods-walter-robb-employee-culture.fortune/
After watching the video, describe what you think to be the culture of the workplace at Whole Foods
Check for Understanding:
No School
Standard:
Learning Target:
Activities:
Discuss the Culture at Whole FoodsCompetitive Advantage
http://www.investopedia.com/video/play/competitive-advantage/
Direct vs Indirect Competition - Examples
Comparative Analysis of the Competitive Advantage
Factors of the Competitive Advantage
Comparative - Price
Differential - Feature/Benefit
Quality
Location
Selection
Service
Check for Understanding:
Standard:
Learning Target:
Activities:
Speed/TurnaroundOthers - Industry Specific
Discuss Quantitative and Qualitative Comparisons
Convenience Store Example
Choose 3 Businesses to compare your choice to.
https://www.kumandgo.com/
https://www.caseys.com/
https://www.quiktrip.com/
Is the competitive advantage sustainable?
Strategies and Tactics
Check out the Competition - Costs, USP, Offers
Check for Understanding:
Identify your Direct Competitors - 3 of themIdentify your Indirect Competitors - 3 of them
Standard:
Learning Target:
Activities:
Discuss Competitive Advantage AnalysisCheck for Understanding:
Identify your Direct Competitors - 3 of them
What are their Offers, Unique Selling Proposition, Costs
Tactics - How do they implement their Competitive Advantage?
Identify your Indirect Competitors - 3 of them
Standard:
Learning Target:
Activities:
Will your Idea Work? Discuss Economics of One UnitExamples - Pizza - Practice
Discuss Example including Labor
Check for Understanding:
Standard:
Learning Target:
Activities:
Business Opportunity AssessmentWork Time - Due Next Thursday
Check for Understanding:
Standard:
Learning Target:
Activities:
Work Time on Business Opportunity Assessment
Check for Understanding:
Standard:
Learning Target:
Activities:
Check Break Even Practice - PizzaMultiple Items and Average Ticket Sale
Questions on Business Opportunity Assessment
Discuss The Market and Market Analysis
Revisit
https://www.youtube.com/watch?v=7O36YBn9x_4&CFID=104059&CFTOKEN=15043204
Begin to Explore your Market - Business Model - Follow the video example.
Types of Research - Primary and Secondary
http://www.allbusiness.com/understanding-the-basics-of-small-business-market-research-2587-1.html
What are you looking for? Why is it critical? Questions to Ask.
http://www.ihop.com/About-Ihop/Franchise-Opportunities/usa
Resources
BizInnovator Website
Potential Market
https://www.sba.gov/blogs/when-why-and-how-calculate-potential-market
Check for Understanding:
Discover the Potential Market for an iHOPWhat questions to ask the potential market.
Standard:
Learning Target:
Activities:
Identify Market Potential - Discover their findings.Who are your Customers - Demographic and Geographic
Demographics, Psychographics, Geographics, Behaviorial, Product Usage
http://www.netmba.com/marketing/market/segmentation/
Read the following articles to prepare for tomorrow
http://articles.bplans.com/target-marketing/
http://www.entrepreneur.com/encyclopedia/target-market
http://www.inc.com/guides/2010/06/defining-your-target-market.html
Check for Understanding:
Standard:
Learning Target:
Activities:
Discuss the ArticlesMotives, Influences, Decision Making Process
Other Consumer Buying Behaviors
Decision Making Process - Routine, Limited, Extensive
Buying Motives - Rational, Patronage, Emotional
Example Target Market - Identify the Characteristics
Check for Understanding:
Spring Break
Homework for Break
1.) Begin to identify 2 customer groups and their characteristics
2.) Identify your Potential Market - Justify it
3.) Begin to Explore your Industry and Competitors, use the following as a starting point and explore more questions that fit your business opportunity.
Industry:
- What stage is this industry in (inception, mature, or declining)?
- Is the industry outlook favorable, or is it shrinking?
- What challenges is this industry facing?
- What trends are creating opportunity for this industry?
- What is the average profit margin in this industry?
Competitors:4.) Connect with Small Business Owner
Brendan - Wendy's Franchise Owner
Cole - Skyzone or Get Air Owner
Nick - Uber
Spring Break
Spring Break
Spring Break
Spring Break
Spring Break
Standard:
Learning Target:
Activities:
Discuss Work over Break
Continue to Identify your Target Market
Influences - Personality, Social Class, Cultural Environment, Groups
Motives to Buy
Decision Making Process and Types of Decisions
Check for Understanding:
2.) Create 12-15 Guiding Questions for Interviews
Develop a Survey - Customer Rewards Program
Standard:
Learning Target:
Activities:
Discuss Marketing Persona - Practice IHOPCustomer Personas - What goes into a Customer Persona?
Trio - Persona Examples
https://blog.bufferapp.com/marketing-personas-beginners-guide
http://www.morebusiness.com/templates_worksheets/bplans/printpre.brc
http://www.mycustomer.com/marketing/strategy/four-sample-buyer-personas-and-what-we-can-learn-from-them
https://www.shopify.com/blog/15275657-how-to-build-buyer-personas-for-better-marketing
http://contentmarketinginstitute.com/2016/05/buyer-personas-essential-parts/
Check for Understanding:
Standard:
Learning Target:
Activities:
Discuss the IHOP Customer PersonaHow to Obtain the information? Primary Research - Building Loyalty Activities and Data Collection
Customer Feedback
https://www.helpscout.net/blog/customer-survey/
Rewards Program
http://coherentpath.com/five-customer-data-essentials-for-loyalty-programs/
Explore - Sample Surveys - What is similar to what was discussed and what Target Market characteristics are present.
Demographics, Geographics, Psychographics, Behaviors, Product Usage
Check for Understanding:
Standard:
Learning Target:
Activities:
Build the Customer Feedback Survey or Rewards Program for your Business - Use Examples to help guide your creationComplete the Survey - Build in Google Forms
Check for Understanding:
Standard:
Learning Target:
Activities:
Discuss the Market Analysis AssignmentMarket Analysis Assessment -Work Time
Check for Understanding:
Market Analysis Assessment Due Next Friday
Learning Target:
Activities:
Marketing Analysis - Q and A
Developing the Marketing Mix
Product, Place, Price, Promotion, People
Developing your Brand
http://www.entrepreneur.com/article/77408

http://www.entrepreneur.com/article/226058
Company Logo - Create a New Logo for your Company
http://www.thelogofactory.com/logo-design-tips/
Check for Understanding:
- Company Name
- Logo
- Branding Strategy - How will you grow your Brand?
Standard:
Learning Target:
Activities:
Iowa Assessments 8:30 - 10:30
Establish your Brand - The Keys
1.) Provide HQ Products/Services
2.) High Ethical Standards
3.) Define your product or service clearly
4.) Treat your employees well
5.) Advertising Message - Positive, Clear, Informative
6.) Associate with the community, charities and other positive PR
7.) Place it Everywhere!!! The audience needs to see it!
8.) Online Presence Domain Name, Social Media, etc..
How have business' established their Brand? Examples
Grumpy Goat - Trademark
Discuss how business established their Brand - Evidence on what they have done and Examples.
Check for Understanding:
Standard:
Learning Target:
Activities:
Your Business - Brand StrategiesWhat would be the key activities you would need to do in order to establish your Brand's Identity?
Identify and Assemble the Products and Services offered
and strategies that need to happen.
Interviews - ??? Status and Questions - Plan of Action and Interview Questions
The Product
Product Lines - What are going to be your offerings?
http://smallbusiness.chron.com/product-mix-639.html
Product/Services - 8 Elements of the Product
Analyze a Product - Macbook
https://www.apple.com/macbook/
Identify each element of the product/service
Check for Understanding:
Standard:
Learning Target:
Activities:
Iowa Assessments 8:30 - 10:30
Product Development - Creating a New Product Work time
New Businesses -
1.) Identify your Product Lines (Width, Depth and Consistency
2.) Identify one Product and one Service you would introduce
- Include the 8 elements in implementing the ideas
Franchise Models
1.) Identify your Product Lines (Width, Depth and Consistency
2.) Create one Product and one Service you would introduce in your Business.
- Include the 8 elements in implementing the ideas
Check for Understanding:
Standard:
Learning Target:
Activities:
Submit Market Analysis
Pricing Objectives
http://www.businessstudynotes.com/marketing/marketing-management/major-pricing-objectives-of-business/
Pricing Strategies
http://www.netmba.com/marketing/pricing/
Government Impacts - Taxable or Non Taxable
https://tax.iowa.gov/iowa-sales-and-use-tax-guide#questions
Check for Understanding:
Standard:
Learning Target:
Activities:
Interviews - ??? Status and Questions - Plan of Action and Interview QuestionsHow to Price Your Products
https://www.inc.com/guides/price-your-products.html
Pricing Strategies
http://www.netmba.com/marketing/pricing/
Check for Understanding:
Where will your business focus on making money? Revenue Products and Margin ProductsIdentify the Pricing for some of your Product Line and determine the pricing strategy that will be most effective.
A.) Describe your overall pricing strategy for your business. - Explain your goals, and clearly identify what you will rely to bring sustainability and success.
B.) Identify of your products what pricing objectives will be in place and explain your reasoning.
C.) Explain what types of pricing discounts you will use throughout the course of your business and how they will help you accomplish your overall pricing strategy.
Also continue to build onto your Product Strategies
Standard:
Learning Target:
Activities:
Being to identify the location where you will want to try to open up the restaurant.Fundamentals of Place and Channels of Distribution
Where are your customers?
https://www.sba.gov/starting-business/how-start-business/business-data-statistics/demographics
Discuss Traffic Count
http://www.iowadot.gov/maps/msp/traffic/tmaps.html
Why do some locations fail?
Where are you on the channel of distribution and how are you going to make the connection with your customers/clients?
Check for Understanding:
Standard:
Learning Target:
Activities:
Buying vs Leasing -Discuss Real Estate Vocabulary
https://www.sba.gov/business-guide/launch-your-business/pick-your-business-location
https://www.allbusiness.com/10-commercial-real-estate-terms-every-small-business-should-know-1409-1.html
http://www.nolo.com/legal-encyclopedia/commercial-lease-basics-29934.html
http://www.loopnet.com/commercial-real-estate-glossary/
A triple net lease (Net-Net-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three 'Nets') on the property in addition to any normal fees that are expected under the agreement (rent, etc.)
Place Example
http://www.dennyelwellcompany.com/commercial-property-listings/retail-space/
http://www.loopnet.com/iowa/waukee-commercial-real-estate/
Check for Understanding:
Place - How are you going to connect your product with the consumer?1.) Where and when will the product will be produced, sold and used?
2.) What characteristics of the product will affect distribution - Quantity, Size, Packaging?
3.) What special physical handling is necessary?
4.) Who will be responsible for each of the distribution activities?
5.) Does the channel fit our organization?
6.) Does the channel fit the target customer and the brands position?
Goal: Match what the business produces and what the consumer wants to buy.
Standard:
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Tips for Locations
Complete the Place Considerations Document.
Check for Understanding:
Standard:
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Activities:
Continue Place Development - Develop your location for your business.
Place Considerations Document
Check for Understanding:
Standard:
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Activities:
Promotionhttps://www.cleverism.com/promotion-four-ps-marketing-mix/
1.) Determine Goals and Objectives - What are you trying to accomplish with each section of the promotional mix? What is your message?
What your Budget?
http://deloitte.wsj.com/cmo/2017/01/24/who-has-the-biggest-marketing-budgets/
Objective and Task Method
Discuss Promotional Mixhttps://www.cleverism.com/promotion-four-ps-marketing-mix/
https://www.linkedin.com/pulse/20141002042202-284765029-promoting-products-5-components-of-the-promotional-mix
Use the links Below to help you prepare your Promotional Mix
Advantages and Disadvantages of each part of the mix.
Advertising
http://www.venturechoice.com/articles/choose_adv_medium.htm
http://www.knowthis.com/types-of-advertising-media
Sales Promotions
http://smallbusiness.chron.com/types-sales-promotions-3318.html
https://www.sparkpay.com/the-top-10-most-popular-types-of-sales-promotions
Direct Marketing
http://smallbusiness.chron.com/examples-direct-marketing-campaigns-24087.html
http://www.businessinsider.com/the-exploding-importance-of-direct-marketing-2013-11
https://courses.lumenlearning.com/boundless-marketing/chapter/the-promotion-mix/
Check for Understanding:
Standard:
Learning Target:
Activities:
Mr. Combs GoneWork Time:
Continue to Build the Marketing Mix:
1.) Building your Brand
2.) Location Considerations
3.) Product Mix
4.) Pricing Strategies
Check for Understanding:
Standard:
Learning Target:
Activities:
Personal Selling - WorkersPublic Relations/Sponsorship
Types and how to use it.
https://www.agilitypr.com/resources/pr-glossary/
http://www.managementstudyguide.com/types-of-public-relation-activities.htm
Press Release
http://www.cbsnews.com/news/how-to-write-a-press-release-with-examples/
Examples
http://www.desmoinesregister.com/story/money/business/2016/03/22/fresh-thyme-specialty-grocery-west-des-moines/82125846/
http://www.desmoinesregister.com/story/money/business/new-business/2015/04/06/gusto-pizza-johnston/25368289/
http://www.desmoinesregister.com/story/money/business/new-business/2016/04/12/zombie-burger-ankeny-iowa-city/82950458/
http://www.prweb.com/releases/2010/06/prweb4163334.htm
Grand Opening Suggestions
http://www.entrepreneur.com/article/56200
http://whotv.com/2015/11/05/west-des-moines-retail-continues-to-grow-rei-set-to-open-friday/
Check for Understanding:
Standard:
Learning Target:
Activities:
Develop questions for tomorrow's meeting.Marketing Mix Assessment Practice - BizInnovator
How to connect with your target audience? What options are the most effective in communicating effectively? Add to your Customer Persona.
Build your promotional mix around your target customers
Marketing Mix Work Time
Promotions
Advertisements, Press Releases, Grand Opening ideas
1.) Building your Brand
2.) Location Considerations
3.) Product Mix
4.) Pricing Strategies
Check for Understanding:
Standard:
Learning Target:
Activities:
Steve Odell from Tenzo Teahttps://tenzotea.co/
FaceTime Conference
Check for Understanding:
Standard:
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Activities:
Marketing Mix Assessment Instructions
Marketing Mix Assessment Practice - BizInnovator
Costs - Determining the Start Up Costs - This sample should help you start to compile the costs that you might have but this should no where be near to the exact list you will create.
Helpful Links
https://www.sba.gov/starting-business/business-financials/estimating-startup-costs
https://www.calcxml.com/do/bus02
http://smallbusiness.intuit.com/news/Achieving-sales-&-profitability/19199534/Common-Start-up-Costs-for-Small-Businesses.jsp
http://www.nolo.com/legal-encyclopedia/start-up-costs-business.html
https://www.investopedia.com/articles/pf/09/business-startup-costs.asp
Check for Understanding:
Standard:
Learning Target:
Activities:
Continue Cost WorkupDiscuss Start Up Costs - ??'s
Fixed Costs vs. Variable (COGS and others)
Operating Costs
Determine these for your Business Venture - Continue onto page 2 of the Spreadsheet
Determine Estimates - Operating Costs and Start Up Costs.
Check for Understanding:
Standard:
Learning Target:
Activities:
Continue Cost DiscussionsDetermine Break Even Point - Knowing what your Prices , Variable Costs and Fixed Costs are.
(Average per Customer)
Fixed Expenses - Depreciation of Equipment - What will depreciate - Used on the Financial Statements
Cash or Accrual Accounting - What system to use?
Cash Reserves
Should you pay yourself
https://www.sba.gov/blogs/5-tips-setting-your-salary-business-owner
http://www.forbes.com/sites/kellyphillipserb/2015/08/24/making-sure-you-eat-paying-yourself-as-a-small-business-owner/#51093c461f79
Based on your reading, what will you do? Provide references to the article and support your response with examples. -
Check for Understanding:
Standard:
Learning Target:
Activities:
Food License Applicationhttps://dia.iowa.gov/sites/default/files/documents/2016/07/food_establishment_license_application_2016_.pdf
Insurance Needs -
https://www.sba.gov/content/types-business-insurance
Research different Insurance Products
https://www.farmers.com/business/
https://www.statefarm.com/small-business-solutions/insurance
General Liability Insurance
Product Liability Insurance
Professional Liability Insurance
Commercial Property Insurance
Workers' Compensation Insurance
Check for Understanding:
Question Answers for James Lunders - State Farm
Standard:
Learning Target:
Activities:
Complete and submit your Insurance Document to Mr. Lunder'sChoosing the Right Ownership Structure
Business Ownership
http://www.legalzoom.com/business/start-your-business.html
http://www.legalzoom.com/business/business-types/compare-business-structures.html
https://www.sba.gov/starting-business/choose-your-business-structure
Check for Understanding:
Marketing Mix Assessment Due
Standard:
Learning Target:
Activities:
Mr. Combs Gone for Golf - Work Time
https://tax.iowa.gov/standard-contacts-resources-and-tax-benefits-businesses
Identify your Ownership type and explain why you chose it. - Detailed explanation - Due Tomorrow
Complete your Cost Discovery - Start Up and Operating Expenses Estimations
Start Up Costs
- One Time
- First 3 Months.
- Totals
First Year Costs
Identify and solve for Fixed Expenses - Maintaining Operations (Include as much as possible and as accurate estimations as possible.
Check for Understanding:
Standard:
Learning Target:
Activities:
Submit Ownership Type Explanation
Begin researching the Pro Forma Statements
http://www.inc.com/guides/business-plan-financial-section.html
http://smallbusiness.chron.com/estimate-financials-business-plans-40460.html
http://www.bizfilings.com/toolkit/sbg/startup/planning/planning-financial-statements.aspx
https://businesstown.com/articles/how-to-create-a-pro-forma-income-statement/
Pro Forma - Financial Statement
Income Statement
Balance Sheet
Cash Flow - BizInnovator Example Format
Sample projections for the first 3 years -
http://www.bplans.com/sample_business_plans.php
Use the sample plans to help guide you,
Have Cost lists Prepared to put together the Pro Forma Statements.
Discuss Setting up Financial Statements
Pro Forma - Samples and Discussion
Use the FDD for Pancheros to determine some of your figures.
Use the Chart of Accounts Provided by Pancheros for the Pro Forma Statements.
Check for Understanding:
Standard:
Learning Target:
Activities:
Discuss Income StatementPractice preparing the Balance Sheet
https://www.youtube.com/watch?v=rSufCFpm0Ng&feature=youtu.be&CFID=205068&CFTOKEN=48174382
Use BizInnovator Resources - Videos
Check for Understanding:
Standard:
Learning Target:
Activities:
Cash Flow Statement - BizInnovator
Check for Understanding:
Standard:
Learning Target:
Activities:
Operations - People and Positions
Typical Employees
Besides the Positions answer the following questions
Create simple job descriptions for the roles in your business. You are trying to attract the best employees possible.
One Management Role and One Typical Employee - Create a job posting for each. Job Description, Job Requirements, Job Benefits
Sell it to prospective employees
Examples -
Part Time Employee
https://jobs.chipotle.com/job/crocker-township/restaurant-team-member-crew-2776-ankeny/282/7764900
Management
http://hiring.monster.com/hr/hr-best-practices/recruiting-hiring-advice/job-descriptions.aspx
Sample Job Description
https://hiring.monster.com/hr/hr-best-practices/recruiting-hiring-advice/job-descriptions/restaurant-manager-job-description-sample.aspx
People - Operations
1.) What are you going to focus your customer service on in training your employees. - What do you want them to value when they are working for you?
2.) Discuss what it will take to get return customers, not just one time customers. What will your business focus on to make sure this happens? (Customer Service Focus - how will your people interact with the customers) Be Specific and Descriptive
3.) What will you do to gain customer feedback? Describe the different tools and ways for you to gain the knowledge and describe how you will use it to your advantage.
4.) Complaints are valuable - Discuss how will you handle them and what you will learn from them, in person and in reviews? What will be the forms of communication that you will allow to best address the complaints. Demonstrate your procedures in handling customer issues.
5.) How many employees will you have? Part Time- Full Time
What job titles/jobs will be needed? Justify your reasoning.
Check for Understanding:
Standard:
Learning Target:
Activities:
Mr. Combs - Gone at Conference Golf
Work Time
Start Up Costs
Financial Statements
Employees and Customer Service Strategies
Check for Understanding:
Standard:
Learning Target:
Activities:
Debt - Sources
Banks/SBA/Credit Unions
Equity - Sources
https://www.entrepreneur.com/article/270556
http://www.inc.com/guides/2010/07/how-to-finance-your-business.html
http://bizfinance.about.com/od/generalinformatio1/a/debtequityfin.htm
http://retail.about.com/od/finances/f/financing_faq3.htm
Making the Funding Request
What will the money be used for, explain what you need and what the return on investment will be.
http://us.accion.org/business-resources/articles-videos/business-plan-section-8-funding-request
http://www.entrepreneurmag.co.za/advice/funding/attracting-investors/how-to-write-a-funding-proposal/
https://www.sba.gov/content/funding-request
Check for Understanding:
Standard:
Learning Target:
Activities:
Mr. Combs - Gone
Work Time -Start Up Costs
Financial Statements
Employees and Customer Service Strategies
Funding Request
Check for Understanding:
Standard:
Learning Target:
Activities:
Mr. Combs - Gone
Check for Understanding:
Submit Work -
Start Up Costs
Pro Forma Statements
Job Posting
Customer Service Questions
Funding Request
Standard:
Learning Target:
Activities:
Discuss Final Business PlanContinue to Prep for Assessment
Check for Understanding:
Standard:
Learning Target:
Activities:
Check for Understanding:
Funding Request Questions and Financials DiscussionQuestions on Feedback for
Job Postings, Customer Service Questions, Funding Request
Executive Summary
https://www.inc.com/jeff-haden/how-to-write-a-great-business-plan-the-executive-summary.html
https://www.entrepreneur.com/article/241071
Work Time for Business Plan
Standard:
Learning Target:
Activities:
Check for Understanding:
Work Time for Business PlanStudy for Thursday
Standard:
Learning Target:
Activities:
Check for Understanding:
Work Time for Business PlanStudy for Thursday
BizInnovator Exam
Password:
BI Spring 2018
Standard:
Learning Target:
Activities:
Mr. Combs - Gone
Check for Understanding:
Work Time for Business PlanMr. Combs - Gone
Work Time for Business Plan
Course Evaluation
http://goo.gl/forms/wv5hEFXiVVq8j8T82